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Unspent Cohesion Funds to finance the Growth Pact‏

EU Heads of State adopted the 'Compact for Growth and Job' worth €120 billion. Its measures foresee increasing the European Investment Bank's (EIB) lending capacity, redirecting unspent (decommited) EU Structural and Cohesion Funds and launching project bonds to support major investments in transport, broadband and energy infrastructure. Member States will have the possibility to consider reallocations within their national envelopes, under existing rules and in cooperation with the Commission.

Council takes first hurdle towards new EU Cohesion Policy

The Council took the first step towards the adoption of new rules for EU cohesion policy for the 2014-2020 period by agreeing on a partial general approach (8207/12 REV 2+ 8207/12 ADD 7 REV 1). The purpose of cohesion policy is to reduce disparities between the levels of developmentof the EU's various regions. The Council's partial general approach is aimed at strengthening results orientation and improving the quality of cohesion spending. It also seeks to contribute to the integration of cohesion policy in the economic governance of the EU.

Council Conclusions 4 October 2011

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